Wednesday 22nd of December 2010
People in Britain who are already deep in the red and struggling to make ends meet may need to ask individual voluntary arrangement (IVA) questions after reviewing their monetary situation.
Virgin Money has urged individuals to look at their finances - which could lead them to require IVA answers - and find out in which areas they could be saving cash.
The organisation noted this could be achieved through measures such as shopping around for better and more suitable car and home insurance deals, after it discovered Brits are wasting a collective £1.5 billion a year by failing to do so.
Kieran Hartigan, managing director of protection at Virgin Money, said: "Searching for insurance renewal quotes can be a bit of a chore but a massive £1.5 billion each year could be saved."
And customers with deep money woes could find they are soon seeking IVA answers if they are not vigilant when spending, after card fraud expert at CCP Sarah Blaney advised consumers to be careful with their card details.
By Neil Burton
